Global nonfinancial corporation debt by economy type 2022

The debt held by nonfinancial corporations as a share of GDP has increased greatly in developing economies since 2008, increasing from 60 percent in 2008 to 98 percent in 2022. Over this same time period, corporate debt as a share of GDP in developed economies increased from 88.6 percent to 93 percent in 2022, meaning that nonfinancial corporations' debt in emerging economies now is higher than in advanced economies.

Total debt of nonfinancial corporations worldwide as a share of GDP from 2008 to 2022, by economy type

Characteristic	Advanced economies	Emerging economies
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Release date

September 2023

More information

Region

Worldwide

Survey time period

2008 to 2022

Supplementary notes

* Includes only countries who provide data to the source, with a list available here.
Data are adjusted for breaks.
Values are aggregates based on conversion to US dollars at PPP exchange rates and calculated using core credit, which captures the outstanding amount of credit at the end of the end of each year. In terms of financial instruments, the values include the core debt, defined as loans, debt securities and currency & deposits.

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